Joby Aviation (NYSE:JOBY) Stock Price Up 5.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) traded up 5.7% on Tuesday . The company traded as high as $11.79 and last traded at $11.54. 47,470,781 shares changed hands during trading, an increase of 70% from the average session volume of 27,845,740 shares. The stock had previously closed at $10.92.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Morgan Stanley decreased their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $13.06.

Joby Aviation Stock Up 5.7%

The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $9.33 and its 200-day moving average is $11.72. The company has a market cap of $11.35 billion, a PE ratio of -10.03 and a beta of 2.61.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million for the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter last year, the company posted ($0.11) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 421,019 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22. Following the sale, the chief executive officer owned 31,678,802 shares in the company, valued at $328,825,964.76. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Didier Papadopoulos sold 3,394 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $8.76, for a total transaction of $29,731.44. Following the completion of the sale, the insider owned 144,284 shares in the company, valued at approximately $1,263,927.84. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,081,030 shares of company stock worth $10,359,251. 28.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in Joby Aviation in the 3rd quarter worth about $29,000. Fifth Third Bancorp grew its stake in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Joby Aviation in the 4th quarter worth about $28,000. Ancora Advisors LLC bought a new position in Joby Aviation in the 3rd quarter worth about $35,000. Finally, Pandora Wealth Inc. bought a new position in Joby Aviation in the 4th quarter worth about $32,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.